GPT Healthcare IPO closes for subscriptions today. Should I apply?

The GPT Healthcare IPO worth ₹525 crore comprises fresh issue of equity shares that aggregate to ₹40 crore and an OFS of up to 2.6 crore equity shares

Published on: Feb 26, 2024, 11:59:10 IST

By HT News Desk

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The initial public offering (IPO) of health firm GPT Healthcare Ltd will close for public subscriptions on Monday. The IPO had received 85 per cent subscription on Day 2 of the offer last Friday.

As per a data by the National Stock Exchange, the IPO got 1,67,51,920 bids for shares against 1,97,63,327 shares on offer. While the initial share in retail individual investors (RII) got 1.24 times subscriptions, the quota was 79 per cent for non-institutional investors. On the other hand, the qualified institutional buyers got 19 per cent subscription.

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IPO stands for Initial Public Offering and it is when the promoters of the company in question for the first time want to raise additional funds by offering shares of the company.

The GPT Healthcare IPO worth ₹525 crore comprises fresh issue of equity shares that aggregate to ₹40 crore and an OFS of up to 2.6 crore equity shares by private equity firm BanyanTree Growth Capital II.

As per a PTI report, BanyanTree has 2.6 crore shares or 32.64 per cent stake in the Kolkata-based firm. The price band for the IPO is ₹177-186 per share. The proceeds from the IPO will be utilised for paying debt and general corporate purposes.

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Founded by Dwarika Prasad Tantia, Om Tantia and Shree Gopal Tantia, the firm started with an eight-bed hospital in Kolkata in 2000. GPT Healthcare now runs four full-service multi-speciality hospitals having a total capacity of 561 beds.

The company had raised ₹157.54 crore from anchor investors a day before its IPO. GPT Healthcare had allotted 84.7 lakh equity shares to 15 funds at ₹186 apiece, which is also the upper end of the price band, according to a circular uploaded on the BSE website.

(With PTI inputs)

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HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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